Elwood Norris Sells 25,000 Shares of Wrap Technologies (NASDAQ:WRAP) Stock

Wrap Technologies, Inc. (NASDAQ:WRAP) major shareholder Elwood Norris sold 25,000 shares of Wrap Technologies stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $2.43, for a total transaction of $60,750.00. Following the completion of the sale, the insider owned 579,867 shares in the company, valued at approximately $1,409,076.81. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Wrap Technologies Stock Down 4.4%

WRAP opened at $2.18 on Friday. The company has a market capitalization of $112.29 million, a PE ratio of -7.27 and a beta of 1.43. The firm has a 50-day simple moving average of $2.47 and a two-hundred day simple moving average of $2.14. Wrap Technologies, Inc. has a 52 week low of $1.20 and a 52 week high of $3.23.

Wrap Technologies (NASDAQ:WRAP) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $3.51 million during the quarter. Wrap Technologies had a negative return on equity of 194.93% and a negative net margin of 300.11%.

Wrap Technologies News Summary

Here are the key news stories impacting Wrap Technologies this week:

• Positive Sentiment: Product / contract relevance — Wrap announced a U.S.?produced, NDAA?compliant next?generation WrapVision body?worn camera (IONODES PERCEPT BC200), which improves eligibility for federal and state procurement and could help open government/enterprise contracts. Wrap Advances WrapVision (GlobeNewswire)
• Neutral Sentiment: Technicals & trading — volume is modestly above average and the stock sits between its 50?day (~$2.46) and 200?day (~$2.13) moving averages; that mixed technical picture can amplify moves from news or insider flows.
• Neutral Sentiment: Institutional activity — several funds (Vanguard, Raymond James, Squarepoint, Osaic) have meaningfully adjusted stakes recently; institutional ownership remains modest (~8.8%), so flows can move the thinly traded stock more than for larger caps.
• Negative Sentiment: Large insider selling — Elwood G. Norris (a >10% holder) executed numerous sales across Oct–Nov (and earlier), materially reducing his position; continued disclosed sales increase float and signal reduced insider conviction, a likely driver of downward pressure. SEC Insider Sale Filings
• Negative Sentiment: Weak near?term fundamentals — most recent quarter showed a small loss per share, negative margins and only ~$3.5M revenue; with a negative ROE and negative net margin, investors are focused on contract wins and cash runway rather than earnings upside.
• Negative Sentiment: Analyst consensus & ratings — the stock carries a weak consensus (MarketBeat shows a “Sell” consensus; at least one firm reaffirmed a sell rating), which can limit buyer interest until clearer revenue/contract momentum appears.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Wrap Technologies from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Wrap Technologies in a research report on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. boosted its holdings in Wrap Technologies by 13.6% during the 2nd quarter. Osaic Holdings Inc. now owns 53,708 shares of the company’s stock valued at $84,000 after acquiring an additional 6,442 shares during the period. Squarepoint Ops LLC lifted its position in shares of Wrap Technologies by 45.3% during the third quarter. Squarepoint Ops LLC now owns 50,209 shares of the company’s stock worth $109,000 after purchasing an additional 15,650 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Wrap Technologies during the second quarter valued at $32,000. Raymond James Financial Inc. lifted its holdings in Wrap Technologies by 6.0% during the 3rd quarter. Raymond James Financial Inc. now owns 646,853 shares of the company’s stock valued at $1,404,000 after buying an additional 36,429 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in Wrap Technologies in the 2nd quarter valued at about $103,000. Institutional investors own 8.82% of the company’s stock.

About Wrap Technologies

Wrap Technologies, Inc (NASDAQ: WRAP) is a designer and manufacturer of less-lethal restraint devices aimed at law enforcement and security professionals. Its flagship product, the BolaWrap®, is a handheld remote restraint tool that deploys a Kevlar-reinforced cord to safely immobilize individuals from a distance of up to 25 feet. The system is engineered to support de-escalation tactics and reduce reliance on physical force in high-risk encounters.

Based in Scottsdale, Arizona, Wrap Technologies oversees product development, testing and training at its headquarters.